Maputo, 2 Aug (AIM) – British Petroleum (BP) subsidiary in Mozambique intends to sell 50 per cent of the shares it holds in the Maputo International Airport Fuelling Services (MIAFS) to the publicly owned fuel company, Petromoc.
According to a note from the Competition Regulatory Authority (ARC), the notification of the sale “was submitted on 24 July and is subject to public evaluation in the next 15 days.”
This is the confirmation of BP’s exit from the Mozambican market, after it had sold its retail business to the French company TotalEnergies in 2021.
Already this year, ARC had announced that BP Mozambique had agreed to sell to Puma Energy Mozambique the assets of the aviation product business, including operations at seven Mozambican airports.
“This deal would also involve a 50 per cent stake in MIAFS, a joint venture with Petromoc, for the design and construction of an aviation fuel depot, management of a fuel handling depot and aircraft fuelling equipment, including a network of hydrants at Maputo International Airport”, reads the document.
The document stresses that British Petroleum-Mozambique has, in recent years, embarked on the sale of its assets in Mozambique, as a strategic measure to gradually move out of the country’s fuel supply market.
“To implement this strategy, during 2021 and 2022, BP Mozambique invited several entities to submit proposals to purchase the assets of the aviation fuel business in the country and its stake in MIAFS, and Puma was then chosen as the best positioned to acquire the target business”, says the document.
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